Period covered: Q3 2024Published: November 21, 2024Read time: 10min

Scottish Property Monitor

Property Monitor: Asking-rents at decade-highs

The Scottish retail market is experiencing a notable shift with the amount of available space numbering 4.2 million sq ft, up from 4.0 million a year ago, out of 97.6 million in total retail inventory. This trend highlights an expanding inventory of unoccupied and available retail spaces, driven by weaker consumer spending power. Perversely, asking rents have increased by 4.5% year, but with increased choice, retailers should be able to negotiate better terms. The Scottish Retail Consortium's focus on reforming rates and encouraging government policy that encourages investment are fundamental to ensuring more retail spaces are occupied, providing employment opportunities and investment in communities across Scotland.